Watts Water Technologies, Inc. (NYSE:WTS) – Stock analysts at KeyCorp boosted their FY2017 earnings estimates for Watts Water Technologies in a research report issued to clients and investors on Wednesday. KeyCorp analyst J. Hammond now forecasts that the technology company will post earnings of $3.00 per share for the year, up from their previous estimate of $2.95. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Watts Water Technologies’ FY2018 earnings at $3.30 EPS.

WTS has been the subject of several other research reports. Boenning Scattergood reiterated an “outperform” rating on shares of Watts Water Technologies in a research note on Tuesday, September 5th. Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Monday, September 18th. BidaskClub downgraded Watts Water Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Zacks Investment Research downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Cowen and Company reiterated a “hold” rating and set a $58.00 price target on shares of Watts Water Technologies in a research note on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $72.83.

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Shares of Watts Water Technologies (NYSE WTS) opened at $69.55 on Monday. The company has a market capitalization of $2,377.78, a PE ratio of 23.82, a PEG ratio of 1.95 and a beta of 1.12. The company has a quick ratio of 1.59, a current ratio of 2.57 and a debt-to-equity ratio of 0.60.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $347.70 million during the quarter, compared to the consensus estimate of $361.22 million. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 EPS.

A number of institutional investors have recently bought and sold shares of WTS. UBS Asset Management Americas Inc. raised its holdings in Watts Water Technologies by 71.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 15,062 shares of the technology company’s stock valued at $939,000 after acquiring an additional 6,296 shares in the last quarter. Teachers Advisors LLC raised its holdings in Watts Water Technologies by 2.5% in the 1st quarter. Teachers Advisors LLC now owns 47,096 shares of the technology company’s stock valued at $2,936,000 after acquiring an additional 1,150 shares in the last quarter. Legal & General Group Plc raised its holdings in Watts Water Technologies by 2.9% in the 1st quarter. Legal & General Group Plc now owns 50,061 shares of the technology company’s stock valued at $3,122,000 after acquiring an additional 1,428 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in Watts Water Technologies by 3.8% in the 1st quarter. Thrivent Financial For Lutherans now owns 15,700 shares of the technology company’s stock valued at $979,000 after acquiring an additional 580 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Watts Water Technologies by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 2,590,860 shares of the technology company’s stock valued at $161,541,000 after acquiring an additional 205,883 shares in the last quarter. 77.62% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Elie Melhem sold 3,306 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $62.11, for a total transaction of $205,335.66. Following the completion of the sale, the insider now owns 32,128 shares in the company, valued at approximately $1,995,470.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.76 annualized dividend and a yield of 1.09%. Watts Water Technologies’s payout ratio is 28.15%.

About Watts Water Technologies

Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.

Earnings History and Estimates for Watts Water Technologies (NYSE:WTS)

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